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Tax and Trade Alert!

stockxpertcom-id9516682-size0-us-capital.jpg [1]As you probably already know, the US House of Representatives approved the Cap and Trade [2] bill last Friday (HR2454 [3]).  I’m still reeling over that.

Although I am disappointed that so many Representatives in Congress voted for this blatent tax, I’m not surprised.  I’m never surprised when the powerful in Washington find a new way to separate me from my money, regardless of the method or intermediaries.

There are those who believe that by taxing corporations or the rich, the impact on the rest of society is nil.  But it never is.  Although not always obvious, these taxes still get paid by you and me in the prices we pay for products and services.  Corporations do not absorb millions of dollars in taxation from a mysterious pool of unspent profit.  They factor those taxes into their revenue models to ensure they maintain the profit level expected by their owners (shareholders).  We all end up paying those taxes.

And in the case of taxing energy consumption, there is no motivation provided to improve the consumption model or method of generating energy… the price simply goes up.  The Heritage Foundation has provided an analysis [4] of the impact of the bill on jobs and families, including estimates of gross state product losses, job losses and average family expense increases.  This is not good for America.

Now is the time to contact your Senator [5].  Updates to the bill should appear in the sidebar under “Cap And Trade Updates”.

Frustrating are the Republicans who support this bill. 

Also interesting are comments from Democrats who opposed this bill:

Below is a video from the Republican National Committee that you also might find helpful.

Props to Bitsblog [6], IowaGOP [7], RNC [8], and various US Government online resources.